Palace go into administration...

[beorhthelm]

strange going ons

whats so strange? the orange one has pumped in £20m (boo hiss) and the only third party creditor got nervous because "football" creditors and Revenue get to the front of the queue automatically. so even with Moses sold for £5m (which is a little hopefull) they could see they would only get £1.5m as they knew Jordan would pay the revenue and other clubs first. they've brought in the recievers to even it up abit, although in the process Moses might get alot less as the administrator goes into firesale mode. at the end of the day, with the Revenue at the door, adminstration this month was inevitable.

the only strange thing is Noades calling for Jordan to sell up, but then not stepping in himself.

 

[wigman]

You have built a 90 million ground.If bloom had not dug you out then how would you have paid it?
Certainly not by gate receipts.

Do you find it astounding that ( Albion) with our income and overheads have managed to avoid administration over the years?

I put it down to good management!

 

[dougdeep]

You have built a 90 million ground.If bloom had not dug you out then how would you have paid it?
Certainly not by gate receipts.

No we haven't. Even when it's finished it won't cost that much.

 

[Horsham Gull]

this shouldnt drop onto page 2

 

[26-10-02]

Do you find it astounding that ( Albion) with our income and overheads have managed to avoid administration over the years?

I put it down to good management!

Yes I do.To be honest I had not even thought about the fact that you had not been into admin. until mentioned on here.It is a credit to the management that they have kept you solvent even with the small crowds that you obtained at priestfield.
Something to be proud of.I mean that.

On a separate note one of our MP's is trying to look into the 10 point deduction,(funny that was never bothered about us before the election was announced),there is an argument that we did not put ourselves in to do the creditor's over.Probably rubbish but you never know.
That's the last good thing I will say about you so enjoy it

 

[beorhthelm]

On a separate note one of our MP's is trying to look into the 10 point deduction,(funny that was never bothered about us before the election was announced),there is an argument that we did not put ourselves in to do the creditor's over.Probably rubbish but you never know.
That's the last good thing I will say about you so enjoy it

yeah it is funny how Politicians pick and chose when to be fans of their local football club... theres no argument though, the points are for going into administration, not considering how thats occured (would be too easy to get around, ie deliberatel not pay a bill to force a creditors hand). however, if i recall the Leeds saga correctly there is another 10pt penalty looming if you do not agree a CVA in which to come out of administration. or somthing.

 

[wigman]

Yes I do.To be honest I had not even thought about the fact that you had not been into admin. until mentioned on here.It is a credit to the management that they have kept you solvent even with the small crowds that you obtained at priestfield.
Something to be proud of.I mean that.

Thanks for that honest and sincere reply; i am just so thankful that we have Tony Bloom.

 

[pornomagboy]

 

[Jamie]

..poor old palace.. build it up in blue and white

 

[Danny-Boy]

To be honest going into Administration might have done the likes of Chester and Luton any good but on the other hand it doesn't seem to have hurt Saints or Leeds that badly. I guess it depends on whether the club in Admin is a 'big' or 'small' club.

Does make me smile though

The following are the views of a Leeds supporter. Leeds were docked 10 points for going into admin, and then a further 15 for leaving it!

The fact is the law has changed, and yes, a club must pay all its football debts to keep its league staus, and all clubs coming out of administration do just this, hence no team has lost their Legaue status by administration alone. (oh maybe Maidstone did, I forget)

But it is no longer the LAW that you have to pay your debts to the Inland Revenue to keep your status as a club. The Inland Revenue (rightly in my opinion) are very miffed about this, and hence got very arsey about how a club comes OUT of administration.

Leeds tried to argue that they were in an impossible position, of being unable to come out of administration if they paid the Inland Revenue debt, yet the Inland Revenue were insisting they pay the debt, which legally Leeds no longer had to.

Hence the Inland Revenue refused to condone the company formed out of coming out of the administration, so the club was forced to do this in an alternative method that the League accepted legally, but only allowed if the club took a further 15 point deduction.

When the further 15 point deduction was imposed on Leeds, most people thought this was just a way at getting back at Leeds for collecting their 10 point deduction very late into the end of a pretty inevitable (though not definite) relegation season, but this is not the case. Consequently EVERY team that has come out of administration since Leeds's case has had the further 15 point deduction. If you don't believe me go back through the records and look it up.

I do not see how this will be different for Palace. Leeds were arguing the case for all teams in administration, but all other clubs saw was a team they hated and they kicked them when they were down. Except Barnsley. Consequently I have no sympathy with every team that goes into administration for getting this further 15 point deduction.

(Southampton' s case was different as they didn't technically go into administration, their parent company did, and the League imposed a 10 point deduction because it seemed they were dodging the system on a technicality) .

I do repeat though that I hope Palace escape relegation purely over the issue of administration.

 

[Danny-Boy]

The irony is that, had Palace not spent a season in the Premiership, they would probably be in a relatively healthy state financially.

No we wouldn't have got £8.5 m for AJ though.

 

[herbicide]

Had to look to page 15 for this thread. You lot must be preoccupied with other things.

Anyway, just to report that things are going well in the search for a buyer, moves are afoot to have the stadium rent lowered, we are in the last 16 of the FA cup with a home tie against Villa coming up. And we have already regained 6 of the ten points lost for going into admin (after less than two weeks).

 

[Mendoza]

Had to look to page 15 for this thread. You lot must be preoccupied with other things.

Anyway, just to report that things are going well in the search for a buyer, moves are afoot to have the stadium rent lowered, we are in the last 16 of the FA cup with a home tie against Villa coming up. And we have already regained 6 of the ten points lost for going into admin (after less than two weeks).

Where as in the same two weeks, we got knocked out the FA Cup, had shit loads of money (in comparison) to burn but didnt, signed a non league striker only to not play him in favour of a striker that hasnt scored since 2006. Our best player wants away, went back into the relegation zone and our manager got sent off.

 

[herbicide]

Where as in the same two weeks, we got knocked out the FA Cup, had shit loads of money (in comparison) to burn but didnt, signed a non league striker only to not play him in favour of a striker that hasnt scored since 2006. Our best player wants away, went back into the relegation zone and our manager got sent off.

Have you thought about going into administration?

 

[sten_super]

(Southampton' s case was different as they didn't technically go into administration, their parent company did, and the League imposed a 10 point deduction because it seemed they were dodging the system on a technicality).

I don't think this is correct. The FL said that the holding company and the football club were effectively the same thing, so the 10 point deduction was the standard punishment. They escaped the further 15 point penalty because they were bought out of administration by a millionaire Swiss businessman who paid off all debts in full. They didn't need a CVA (which is the FL preferred method for insolvent clubs) and therefore didn't go against the FL in not securing one (which is the issue Leeds had).

 

[The Grockle]

Where as in the same two weeks, we got knocked out the FA Cup, had shit loads of money (in comparison) to burn but didnt, signed a non league striker only to not play him in favour of a striker that hasnt scored since 2006. Our best player wants away, went back into the relegation zone and our manager got sent off.

It’s all a little but embarrassing to be honest we were all (myself included) laughing at Palace going into admin and having no cash but despite this they are going strong and will probably finish just outside of the playoffs.

We have spent pretty big and achieved the square root of f*** all, I suspect if the moaning old women that is Warnock had the cash Slade had in the summer they would probably be heading for the premier league next season.

 

[herbicide]

Everyone loves the "Moaning Old Woman".

I didn't realise you had spent big though. You didn't buy anyone in January, did you?

 

[Danny-Boy]

Had to look to page 15 for this thread. You lot must be preoccupied with other things.

Anyway, just to report that things are going well in the search for a buyer, moves are afoot to have the stadium rent lowered, we are in the last 16 of the FA cup with a home tie against Villa coming up. And we have already regained 6 of the ten points lost for going into admin (after less than two weeks).

I thought for a mo you meant the League had given them back, but it was down to the players of course.

Another comparison with Forster's decision to leave a solvent club is that two Palace players on the last day of the transfer window opted NOT to leave. That shows a team spirit among the Selhurst squad which seems to be lacking at Withdean.

 

[Danny-Boy]

Where as in the same two weeks, we got knocked out the FA Cup, had shit loads of money (in comparison) to burn but didnt, signed a non league striker only to not play him in favour of a striker that hasnt scored since 2006. Our best player wants away, went back into the relegation zone and our manager got sent off.

Why not take a tip from us and bring back Andrew Whing as a striker?

 

[fosters headband]

Had to look to page 15 for this thread. You lot must be preoccupied with other things.

Anyway, just to report that things are going well in the search for a buyer, moves are afoot to have the stadium rent lowered, we are in the last 16 of the FA cup with a home tie against Villa coming up. And we have already regained 6 of the ten points lost for going into admin (after less than two weeks).

Thats not the picture I get when reading BBS, the only accurate bit of your post is the 6 points gained and well done to the players there.
There is now talk of a further points deduction for financial irregularities.
Also the administrator talking about deferring players wages again. Not good at all.